Oceania is a region that has some of the most beautiful and unique destinations in the world. From Tahiti and Fiji to Hawaii and New Zealand, this region offers something for everyone. With such a diverse range of cultures, landscapes and climates, it is no surprise that Oceania is one of the fastest-growing regions for tourism globally.
The continent
- The continent is a diverse region. Oceania, the second largest landmass on Earth, encompasses more than 10% of the world’s surface. It consists of islands spread across both oceans and includes Australia and New Zealand in the south Pacific Ocean; Melanesia (Fiji, Solomon Islands), Micronesia (Guam), Polynesia (Hawaii) and Polynesia (New Caledonia) in the north Pacific Ocean; and Hawaii in the central Pacific Ocean. The Pacific Islands are over 2,000 islands that vary significantly in size. They range from tiny atolls to huge volcanic islands—some are uninhabited, while others are home to millions of people.
- Oceania is home to many different cultures—they can be found all over this vast region! Because there are so many countries within Oceania and large populations scattered throughout Asia, Europe and North America, language barriers may exist among some groups who would otherwise be working together towards a common goal if they could speak each other’s language fluently enough for effective communications.”
Australia and New Zealand
Australia and New Zealand are the largest economies in Oceania, with Australia being ranked as the 12th largest economy in the world and New Zealand as the 14th largest economy.
Australian and New Zealand economies are expected to grow by 2% annually until 2020. This growth is driven by increased investment in infrastructure projects, improved domestic demand, population growth and increasing exports to China.
The Pacific Islands
- The Pacific Islands are a great place to start your international expansion.
- This region has been growing in population and economic growth, and the infrastructure is following suit: internet penetration is low but high in vital urban areas. For example, internet penetration in Australia is 78%. In comparison, only 25% in Fiji, where access to technology can be difficult due to a lack of infrastructure (or maybe more likely because they prefer traditional forms of entertainment like kava ceremonies).
The key opportunities in 2023
If you’re considering expanding to Oceania, you’ll want to be sure that the region is suitable for your company. Here are some key opportunities in 2023:
- Population growth. The population is projected to increase by 39% between 2020 and 2029, which means more people need your products and services.
- Economic growth. The economy has been growing steadily since the early 2000s, with no signs of slowing down anytime soon–especially if current economic policies continue!
- Political stability. While there have been some changes in political parties over the past few years, there hasn’t been any significant upheaval or civil unrest since 2010 or so (we’d have heard about it). This suggests that regional political stability is solid and reliable enough for businesses like yours to consider investing capital here without worrying about significant policymaking shifts down the road–or even before then!
- Robust education system: Oceania has one of the best educational systems in the Asia Pacific; students consistently score above average on standardised tests and perform well internationally compared to other developed countries worldwide, thanks mainly to its high literacy rate among adults aged 25+. This means they’ll likely be able to read instructions from international partners such as yourself, which could ultimately prove beneficial during overseas expansions!
Bottom Line
I hope you’re as excited about these opportunities! It can be difficult for businesses to expand overseas, but Oceania offers many benefits that make it worth considering. If you’re unsure where to begin, my team is always here with advice and resources to help you along the way.
Who am I?
I am Dotun Adeoye, a Business Growth Strategist & Author of the 5 Pillars of Business Growth.
I’ve built up my experience via serial entrepreneurship, consulting leadership roles in business growth, business development and product innovation in large companies worldwide in the last 30 years.
Today, I consult with large businesses on how to sustainably grow their businesses, sustain infinite growth, ensure business continuity and achieve a legacy.
Hire Dotun Adeoye to Speak Virtually or In – Person at your company’s event to cover this or other topics. You can also get in touch via +44 203 097 1718 or dotun at dotunadeoye.com.
